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Overcoming Overwhelming Disruption:
What to Do NOW
INV1, February 11, 2019
Neil Patel, President, Healthbox
Executive Vice President, HIMSS
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Neil Patel, President, Healthbox; Executive Vice President, HIMSS
has no real or apparent conflicts of interest to report.
Conflict of Interest
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• What is Disruption?
• Important Disruptions in History
• Why Healthcare? Why Now?
• Identifying Key Disruptors in the Industry
• Areas of Opportunity
• What to Do NOW
Agenda
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• Identify how and why new entrants are coming to healthcare.
• Recognize the major areas of opportunity for disruption
• Consider your own business - where is it most vulnerable?
• Think ahead. What should you do?
Learning Objectives
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Speaker
President, Healthbox
Executive Vice President,
HIMSS
NEIL PATEL
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The Internet as a Disruptor
In the past, sports news was mainly on TV,
the radio, and in newspapers.
Social media allows fans to have instant
access to sports-related information and direct
contact with players, coaches, and
newscasters.
The
Internet
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The Mayo Clinic Center for Social Media, now the Mayo Clinic
Social Media Network (MCSMN) was established in 2010.
Social Media in Healthcare
”At Mayo, we believe individuals
have the right and responsibility
to advocate for their own health,
and it's our responsibility to help
them use social networking tools
to get the best information, and
connect with providers as well
as one another.”
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Notable Conjecture
Neither Redbox nor Netflix are even on
the radar screen in terms of competition.
Blockbuster CEO, Jim Keyes, 2008
The last remaining Blockbuster, July 2018
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The Advent of
Medical Imaging
Autopsy
X-Ray
Ultrasound
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One More Timeline
https://www.torbenrick.eu/blog/change-management/surviving-disruption-in-an-age-where-competition-comes-from-anywhere/
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dis·rup·tion | \ ˈdisˈrəpSH(ə)nˈ\ | noun
1 Innovation that creates a new market and value network,
eventually disrupting an existing market and value network,
displacing established market-leading firms, products, and
alliances
2 Tends to be produced by outsiders and entrepreneurs in
startups, rather than existing market-leading companies
3 An innovation that takes longer to develop than by the
conventional approach, with higher risk than other, more
incremental or revolutionary forms of innovation
4 Once deployed in the market, achieves much faster penetration
and higher degree of impact on the established market(s)
Defining Disruption
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It is a unique time in healthcare. There are many factors contributing to the recent
rise in disruption:
Why Healthcare? Why Now?
Cost of Care Poor Outcomes
High Systemic
Waste
Lack of
Consumer Choice
Healthcare is
Cool Again
Infrastructure
Digitization
Do Well By
Doing Good
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Disruption
from New
Entrants
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Disruption
from
Incumbents
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As the largest payor organization in the United States, Blue Cross Blue Shield (BCBS)
is an incumbent in the field, breaking new ground as a provider organization.
BlueKC – SpiraCare
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Top Areas of Opportunity
Social Determinants
of Health
Precisio
n
Medicine
Telemedicin
e
Data
Transparency
Roboti
c
Surger
y
Individualize
d Care
Big Data &
Artificial Intelligence
Alternative
Pain
Management
Cost of
Care
Poor
Outcomes
High
Systemic
Waste
Lack of Consumer
Choice/Access
Healthcare is
Cool Again
Infrastructure
Digitization
Do Well By
Doing Good
Medical Education &
New Generation of
Physicians
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What Should Health Systems Do NOW?
Embrace
Change
Cultivate
Innovation
Build, Buy,
or Partner
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What Are Health Systems Already
Doing?
Embrace
Change
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What Are Health Systems Already
Doing?
Cultivate
Innovation
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What Are Health Systems Already
Doing?
Build, Buy,
or Partner
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Fireside Chat
Chief Strategy Officer,
Atrium Health
RASU
SHRESTHA
President, Healthbox
Executive Vice President, HIMSS
NEIL PATEL
